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Tuesday, 18 August 09
INDIA PLANS 'SIMPLER' MINING LAW TO BOOST INVESTMENT
 Bloomberg reported that, India aims to cut permit delays and attract overseas capital through “simpler” resource investment laws to help double mining’s contribution to the nation’s $1.2 trillion economy to at least 4 percent.
“We hope to increase it to 5 percent but expect it to increase to at least 4 percent in five years,” Mines Minister B.K. Handique said in an interview in New Delhi yesterday. The legislation will be presented to parliament in the winter session this year, he said.
Delays in securing mining licenses have undermined India’s efforts to win more investment, holding up construction of $32 billion projects announced ArcelorMittal and Posco, the world’s largest and sixth-largest steelmakers. The new law will develop the changes to the mineral policy last year that have so far failed to unlock development.
“It will be great if the government is able to cut down the long-winded procedure,” Niraj Shah, an analyst at Centrum Capital Ltd., said today. It will help companies who are serious about building operations in India, he said.
India, which holds the world’s fourth-largest bauxite deposits and the fifth-largest iron ore reserves according to McKinsey & Co., currently regulates mining through the five- decade old Mines & Minerals (Development & Regulation) Act.
“We will introduce a legal framework that ensures sustainable development and includes environment concerns,” Handique said. “We have to ensure it’s more broad-based as if there is resistance from people it will not be possible to translate the act into reality.”
Posco, ArcelorMittal
Land disputes and delays in allocating mining licenses have stopped South Korea-based Posco from proceeding with potentially the biggest overseas investment in India. The company is yet to begin building a $12 billion, 12 million metric ton steel plant in eastern Orissa state, planned for more than five years.
“The policy is aimed to make the rules more transparent and simpler,” Handique said. “Posco is a bad precedent but we know that overseas companies want to invest in India and transparent policy will help that,” he said, adding that he also expects the law changes to spark investment from domestic companies.
“We hope the government approves the mine license soon, then we would like to secure land and start the project as soon as possible,” Choi Doo Jin, a spokesman at Posco, said by phone from Seoul today.
ArcelorMittal has proposed setting up two mills in India, one in Orissa and another in Jharkhand -- with a total capacity of 24 million tons. It signed an accord for the Jharkhand mill in mid- 2005, followed by the one in Orissa.
Besides companies, countries including South Africa, Namibia and Colombia have shown interest in investing in the mining sector, Handique said.
Source: Bloomberg
To contact the reporter on this story: Debarati Roy in Mumbai at droy5@bloomberg.net
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Monday, 17 August 09
CHINESE COAL PURCHASE COULD START A TREND
ABC Rural reported that, The takeover of a major Australian coal mining company by Chinese-owned Yanzhou has raised fears coal markets could be domi ...
Saturday, 15 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The dry bulk market continued to be soft in the beginning of the week, however towards to end of the week the BDI recovere ...
Friday, 14 August 09
ASIA GREEN TO SELL MORE COAL
I Stock Analyst reported that, Asia Green Energy Plc (AGE) aims to increase its coal sales by 20 percent to 1 million tonnes this year, given the gl ...
Friday, 14 August 09
INDONESIA COAL-PRICES FALL TO $74, INDIA EYES SEPT CARGOES
Reuters reported that, Prices of power-station coal from Australia fell to around $74 a tonne as demand eased, while Indian buyers started to look f ...
Friday, 14 August 09
GUACOLDA STARTS THIRD COAL-FIRED UNIT
Macorship reported that, Chile’s Empresa Electrica Guacolda said that the third unit at its Guacolda coal-fired power plant began supplying po ...
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- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Australian Coal Association
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
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